Automotive Industry Financing Program
E79683
The Automotive Industry Financing Program was a U.S. government initiative that provided emergency financial support to major American automakers and related companies during the late-2000s economic crisis to prevent their collapse and stabilize the auto sector.
Aliases (1)
- TARP Automotive Industry Financing Program ×1
Statements (45)
| Predicate | Object |
|---|---|
| instanceOf |
United States government program
→
economic stabilization program → |
| administeredBy |
U.S. Department of the Treasury
→
|
| aimedToProtect |
U.S. manufacturing base
→
U.S. taxpayers → |
| alsoKnownAs |
AIFP
→
|
| appliesToJurisdiction |
United States
→
|
| beneficiary |
Chrysler
→
Chrysler Financial → GMAC → General Motors → auto parts suppliers → |
| country |
United States
→
|
| endCause |
stabilization and recovery of U.S. auto industry
→
|
| follows |
Great Recession
→
late-2000s financial crisis → |
| fundingSource |
Troubled Asset Relief Program funds
→
|
| governmentBranch |
executive branch of the United States
→
|
| hasEffect |
helped preserve U.S. manufacturing jobs
→
prevented disorderly bankruptcy of major U.S. automakers → supported restructuring of Chrysler → supported restructuring of General Motors → |
| implementedBy |
Office of Financial Stability
→
|
| industry |
automotive industry
→
|
| legalBasis |
Emergency Economic Stabilization Act of 2008
→
|
| partOf |
Troubled Asset Relief Program
→
|
| policyArea |
economic policy
→
financial stabilization → industrial policy → |
| purpose |
prevent collapse of major American automakers
→
provide emergency financial support to the U.S. automotive industry → stabilize the U.S. auto sector → |
| reasonForInitiation |
risk of large-scale job losses in auto sector
→
severe liquidity crisis in U.S. auto industry → |
| relatedTo |
Chrysler Chapter 11 reorganization
→
General Motors Chapter 11 reorganization → U.S. auto bailout → |
| riskType |
credit risk
→
|
| sector |
auto finance
→
auto manufacturing → |
| startTime |
2008
→
|
| timePeriod |
late 2000s
→
|
| usedInstrument |
equity investments
→
loans → warrants → |
Referenced by (3)
| Subject (surface form when different) | Predicate |
|---|---|
|
Troubled Asset Relief Program
→
|
keyProgram |
|
Office of Financial Stability (historical)
("TARP Automotive Industry Financing Program")
→
|
programAdministered |
|
U.S. auto industry crisis of 2008–2010
→
|
programUsed |